“If your property went up, for example, 10 per cent and the average was 10 per cent [in your region] and say the city was publishing that their taxes would go up three per cent, then you would expect your taxes to go up three per cent,” said Schwagele.

Homeowners whose property values increase by more than the average in their city will see higher than usual tax increases, she added.

Fraser Valley’s most valuable

A $30 million South Surrey acreage remained the most expensive property in the Fraser Valley, having increased in value by close to $6 million since last year.

Want to see where the other half lives? Here are the Fraser Valley’s top 10 most expensive homes: